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|Event Name:||ACH Exception Processing 101, 201, 301 (3 Part Webinar Series)|
|Date:||Tuesday, October 30, 2018 11:00am CDT|
|Panelist(s) Info:||Donna Olheiser (Bio)
Donna, the Vice President of Education Services for Dynamic Mastership, is a Certified Master Trainer and an experienced Project Manager, with over 14 years’ experience managing education programs for organizations processing electronic payments and financial institutions operations areas. Prior to founding Dynamic Mastership 3 years ago, Donna served as the Education Services Director for UMACHA for 9 years. Donna began her career serving as Training and Development Specialist for the Federal Reserve Bank, Minneapolis.
|Credits:||1.8 AAP, 1.5 CPE Credits|
In this 3-Part ACH Webinar Series, attendees will hear the responsibilities for RDFI accepting ACH entries and the right to return; including general Returns, time-frames and scenarios to demonstrate Rules and details on Extended Returns, time-frames and examples to help identify. It’s not just about the RDFI with Exception processing, so the obligations of the ODFI/Originator when initiating Pre-note Entries
Includes how Pre-notes are affected in Same Day environment and details on Rules compliance if the Pre-note is returned. Included will be the roles and responsibilities of the RDFI when receiving Pre-note Entries.
Stop Payment Rules surrounding time-frames and the difference between a consumer and non-consumer Stop Payment requests. Describing the warranties of the RDFI when sending NOCs (COR Entries) and the ODFI and Originator Responsibilities and Warranties when receiving NOC’s (COR Entries). How returning an Entry as Stop Payment can change in the Same Day environment.
There is a process in the Rules for Reinitiation of entries by the ODFI – details on how this process works in the network will be covered including the Return Reason Codes to be used by the RDFI and ODFI when using the Reinitiation process in the ACH Network.
Details on Reversal Entries regarding the Rules and details on how each participant (ODFI & RDFI) are affected.
As an EXTRA Bonus – Throughout the entire series, how does Same Day ACH affect all these processes, especially returns – faster settlement without paying the same day fee
Part 1: ACH Expections 101
An RDFI must accept all types of entries with the right of return. What does that mean? As an RDFI there are specific requirements and warranties when you initiate (or transmit) Return Entries. Extended Return timeframes and when do you need to use a WSUD. Also included are Stop Payment Rules for consumer payments vs corporate payments. Notifications of Change are optional for the RDFI – BUT, if they do them – what are the warranties that go with the COR Entries? Included in session 1, will be the following:
Part 2: ACH Exceptions 201
For an ODFI/Originator, Pre-notes are optional – BUT, if they do them, what are the responsibilities, obligations and warranties? How does Same Day affect Pre-notes? It is vital to know the banking day delay has been reduced which adds more responsibility to both the Originator and ODFI for Pre-note Entries. Responsibilities when the ODFI receives a COR entry (NOC), time-frames and who is ultimately responsible for that change being made is covered. In this session, you will receive details on:
Part 3: ACH Exceptions 301
Topics covered on the Reinitiation of Entries by the Originator/ODFI, including a detailed change in the format of these types of Entries. The Reversal Process, aka as the “Dishonored Returns and Contested Dishonored Returns Related to an Unintended Credit to a Receiver” has different compliance requirements for both the ODFI and the RDFI. Format changes for Reinitiated Entries for the ODFI and “recently added” Return Reason Codes to both these processes – that YOU need to know! This session will provide details on: